Gold stabilized today, with market participants awaiting the important US central policy meeting, in the face of increasing inflationary pressures and fears of slowing economic growth.
According to “Reuters”, there was little change in gold in spot transactions, as it recorded 1793.60 dollars an ounce (an ounce) by 07:00 GMT. US gold futures rose 0.1% to $1,796.70.
Stephen Innes, managing partner at SBI Asset Management, expects gold to remain under pressure if central banks go to tighten policy, and the Federal Reserve is likely to announce the start of reducing stimulus at the end of its two-day meeting tomorrow.
“Gold may remain supported if benchmark US 10-year bond yields remain near current levels, indicating weaker growth expectations for bondholders. 10-year yields remain above 1.5% today but are well below multi-month highs of 1.7% reached in the month,” he said. the past.
As for other precious metals, silver fell in spot transactions 0.3% to $23.94 an ounce. Platinum fell 0.7% to $1,056.38, and palladium fell 0.1% to $2,044.97.